The popularity of destination weddings is ever on the rise with Indian destination wedding market expected to reach a market size of Rs.45,000 crore by the end of 2020, as predicted by Entrepreneur India. The projected annual growth rate for the same is 25-30%.
Since Indian weddings have always been a gala affair and the idea of destination wedding into it makes it all the more expensive as destination wedding cost includes
- Cost of travel of guests and host.
- Accommodation costs.
- Wedding banquet and decorations.
- Food and other expenses.
With these many expenses to take care of, the total cost for a destination wedding in India is substantial even if one chooses to invite only the closed ones as a guest. Consequently, they must concentrate on ways to plan the wedding on a budget so that they don’t strain themselves financially. In this context, the following tips and tricks will help save money while planning a wedding.
Tips to a Plan Destination Wedding on a Budget
Tip 1: Keep the Guest List Short
Destination weddings are quite different from the conventional ones as individuals have to arrange for the travel and accommodation expenses of guests as well in addition to the food expenses. Besides, the rituals stretch to a few days, straining one financially. Hence, keeping the guest list short will help individuals plan a budget-friendly wedding.
Tip 2: Choose a Destination as Per Budget
The destination wedding cost primarily depends upon the choice of destination and the wedding venue is undeniably a major portion of one’s wedding budget. Choosing a destination in the outskirts of the city with a picturesque natural view over a 5-star wedding banquet will help save a substantial sum. One can plan a destination wedding under Rs.20 lakh by choosing the right destination and venue and also maintaining the destination wedding cost.
Tip 3: Seek Best Payment Methods
One has to make a lot of payments for various purchases and services opted for, and choosing the reliable and profitable payment method will help them in planning a wedding in the budget. With suitable payment options, they can earn cashbacks, reward points, or avail discounts.
Tip 4: Make Advance Bookings
Last-minute bookings can be expensive, and one may end up paying more than they intend to. Planning ahead of time ensures they have enough time to look for offers and make bookings for services that are worth the price.
Tip 5: Create a Priority List
When talking about a wedding, there’s a never-ending list of things one can buy or opt to spend on, which may not be necessarily important. Consequently, individuals must draft a priority list and spend accordingly so that they can limit the purchases to some extent.
Tip 6: Check Offers
Since destination wedding cost includes the cost of travel and the cost of accommodation, they must make sure to get the best deal available. Several times, many travel sites offer cash backs and discounts on round trips and other similar discounts. One should always be on the lookout for such offers that help plan weddings on a budget.
Since such occasions aren’t a one-day affair, they cost substantial money to the bride and groom. In situations, they face a deficit of funds to finance their wedding; they need to arrange for the amount by looking for prospective advance opportunities. One of the secure and feasible methods for the same is by applying for a loan against property by mortgaging a property such as an apartment, a house, or even a commercial space.
Such wedding loans can help customers avail substantial finances for their dream destination wedding. These are easy to avail and can help one meeting the financial requirements.
Nonetheless, one should avail a loan amount that is necessary and not more so that they can limit the expenses and plan a destination wedding on a budget. Refer to a leading lender to avail the loan at beneficial terms and meet the necessary expenses without hassle after the perfect destination wedding.